CT HB05217

Amends section 2-33a of the general statutes to define four key terms related to the constitutional spending cap: "increase in personal income," "increase in inflation," "general budget expenditures," and "federal mandates."

Defines "increase in personal income" as the compound annual growth rate of personal income over the preceding five calendar years using United States Bureau of Economic Analysis data.

Defines "increase in inflation" as the consumer price index increase for urban consumers (excluding food and energy) during the preceding calendar year on a December-over-December basis using United States Bureau of Labor Statistics data.

Limits general budget expenditures to growth no greater than the percentage increase in personal income or inflation (whichever is greater) and excludes debt service, federal funds, and certain federal mandate expenditures from the cap calculation.

Specifies that federal mandate expenditures do not count toward the spending cap in their first fiscal year of authorization, but count thereafter for calculating future-year limits.